Disney+ Faces Subscriber Drop After Price Increase

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Disney+ Faces Subscriber Drop

Disney’s streaming platform, Disney+ experienced a significant decline in subscribers during the last quarter of 2023 following a recent rise in subscription prices.

Subscriber Decline After Price Hike

Disney+ witnessed a decrease of 1.3 million subscribers globally in Q4 of 2023 due to the implementation of a price increase.

The number of Disney+ Core subscribers which includes users from North America and international regions excluding India’s Disney+ Hotstar dropped from 112.6 million to 111.3 million during this period. However, Disney+ Hotstar observed growth adding 60,0000 subscribers and reaching a total of 38.3 million.

Efforts to Achieve Profitability

Since Bob Iger resumed his role as Disney’s CEO in 2022, one of his main objectives has been to make Disney+ profitable. The company’s quarterly earnings report indicates progress toward achieving profitability by the end of the current fiscal year with streaming business losses narrowing by $300 million between Q1 and Q4.

Additionally, Disney achieved $500 million in savings during Q4 bringing them closer to their annual savings target of $7.5 billion by the end of fiscal 2024.

Corporate Challenges and Lawsuits

Disney is currently facing challenges including an ongoing proxy fight led by activist investor Nelson Peltz who aims to alter the company’s long-term strategy and governance structure.

Moreover, Disney is involved in a lawsuit filed by former Star Wars actor Gina Carano alleging wrongful termination from the Disney+ show The Mandalorian with Elon Musk reportedly funding her legal proceedings.

Upcoming Releases and Projects

Disney also unveiled release dates for upcoming animated movies like Zootopia 2 and Frozen 3. Bob Iger confirmed plans for two sequels to the Frozen series. Additionally, Disney+ has released projects like Echo and premiered The Marvels after its theatrical run.

Future shows such as X-Men ’97 Daredevil: Born Again, Agatha: Darkhold Diaries and the concert film Taylor Swift: The Eras Tour are also in the pipeline.

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